Transportation News

A global alternative investment firm Strategic Value Partners has entered into agreement with Hornblower Group to acquire the majority ownership of the company in exchange for significant equity investment. As part of the agreement, Crestview Partners retained minority ownership in the business, and the decision was made to sell or wind down the company’s overnight cruises unit American Queen Voyages.Aside from significant minority stake in the business, Crestview will become the sole owner of Journey Beyond…

As zero carbon cargo efforts are progressing, it is becoming more apparent that the lowest hanging fruit is in the last few miles. This is where a large amount of carbon is expended in delivering small parcels to stores and consumers’ doors.This is particularly apparent in dense pack cities like New York City, where delivery vans clog streets and water crossings. The NYC Economic Development Commission recently issued a Request For Expression of Interest in waterborne micro cargo delivery.

Mitsui O.S.K Lines (MOL) has signed non-binding memorandum of understanding (MoU) with Woodside Energy, HD Korea Shipbuilding and Offshore Engineering (HD KSOE), and Hyundai Glovis to jointly study the development of shipping solutions to enable bulk marine transportation of liquid hydrogen.Woodside Energy, HD KSOE and Hyundai Glovis have been studying liquid hydrogen transportation since 2022.In this project, the participating companies will study the technology, safety, construction…

Berthing operations and truck movement were disrupted over the weekend in at least three ports handled by India's Adani Ports and Special Economic Zone Ltd, India's largest port operator, four sources familiar with the matter told Reuters.There was no truck movement at three Adani ports in the state of Gujarat on the west coast, Mundra, Dahej and Tuna, the sources said. Additionally, berthing of container vessels was disrupted at Mundra, they said.Two of the sources said some…

Product tanker demand is expected to be boosted going into 2020 by impacts relating to the IMO 2020 sulfur cap, including higher global refinery throughput and gasoil trade in particular, said d’Amico International Shipping.The international marine transportation company operating in the product tanker market quoted Clarksons projecting product tanker dwt demand to grow by 5.7% next year.The IEA, in their October report have reduced their oil demand growth forecasts for 2019 and 2020. They expect growth in 2019 to be the weakest since 2016, following evidence of a slowdown in several major consuming regions and countries, including Europe…

Dubai state controlled port operator DP World's revenue grew 36.1% in 2019, but it says the near-term outlook remains “a cause for concern” due to global trade disputes and the coronavirus outbreak.DP World, one of the world’s largest port operators, made $1.34 billion last year compared to $1.33 billion in 2018, it said in a bourse filing. Revenue rose 36.1% to 7.7 billion."However, the global trade outlook remains uncertain due to supply chain disruption caused by Covid-19 outbreak," it said in a press note."However, DP World is well positioned to respond in the short term by focusing on disciplined investment and managing the cost base to protect profitability.

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Oldendorff Carriers GmbH & Co. KG, Lübeck, Germany, for one of its Capesize dry bulk vessels, the m/v Sideris GS.According to a press release from the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$12,700 per day, minus a 5% commission paid to third parties, for a period until minimum October 15, 2020 up to maximum December 31, 2020. The charter is expected to commence on March 8, 2020.The “Sideris GS” is a 174,186 dwt Capesize dry bulk vessel built in 2006…

Taiwan accepted its first carbon neutral shipment of liquefied natural gas (LNG). State-owned CPC Corporation, a natural gas, and gasoline company in Taiwan announced receipt of LNG cargo from Shell.Nature-based carbon credits have been used to compensate the full carbon dioxide (CO2) emissions generated – from exploring for and producing the natural gas, to use by the final consumer.The cargo, which was delivered at the Yung-An LNG Receiving Terminal, will provide enough carbon neutral LNG to power nearly 150,000 homes for a year.Credits used for this deal are purchased from Shell’s global portfolio of nature-based projects, including the Katingan Peatland Restoration and Conservation Project in Indonesia…

The container port in the Limón province of Costa Rica, Terminal de Contenedores de Moín or Moín Container Terminal (MCT), operated by APM Terminals, completed its first year of operations on February 28.A press release from the international container terminal operating company headquartered in The Hague said that during the year the terminal serviced more than 1,100 ships, around 1.2 million TEUs and achieved important improvements in productivity, sustainability and the training of 1,000 employees from the province of Limón.“During this time, we’ve reached very important milestones, such as the opening of new direct trade routes, increased port efficiency…

French container transportation and shipping company CMA CGM announced the reorganization of its SIRIUS service connecting the Mediterranean with the East Coast of South America, effective March 2020.The new rotation will concentrate on our hub ports of Algeciras and Tangiers from where connections to and from Mediterranean ports will be made with our extensive inhouse mother & feedering network.The weekly service will be maintained with 6 vessels (of which 2 operated by CMA CGM) instead of the current 7 and Mediterranean ports are served in relay with connecting services retaining competitive transit times. SIRIUS new features include…

Navelink is a newly formed sea traffic management industry consortium initiated by the industrial companies Kongsberg Gruppen, Saab and Wärtsilä, three influential and significant maritime equipment manufacturers and service providers.The aim of the consortium is to reach a new global standard enabling scalable maritime information exchange. The consortium already has the Swedish Maritime Authority (SMA) boarded and has commissioned Combitech to deliver the infrastructure needed."Ship owners and operators, as well as coastal and port authorities and their service providers can benefit from the open infrastructure we are establishing.

The global container company A.P. Moller – Maersk has started end-to-end cold chain logistics solution for its customers exporting grapes from Nashik and Sangli in India to North Europe.With this new offering, Maersk is enabling the exporters from the region to supply high quality Indian grapes to global market and helping fetch higher returns for the farmer community in and around the Nashik district. Leveraging its variety of services throughout the supply chain, Maersk is improving the overall turnaround time to North Europe by 4 days.Gearing up for the peak grape season and helping exporters based in Nashik, ‘The Grape Capital of India’…

THE Alliance, which includes Hapag-Lloyd, Hyundai Merchant Marine (HMM), Ocean Network Express (ONE), and Yang Ming, announced updated details of its 2020 service network, focusing on the Asia-Middle East trade-lane.THE Alliance will introduce three newly organized express loops from early April and the Middle East Service Network (MESN) will provide higher frequency, direct and expanded coverage, and the fastest connection from the respective regions.Hyundai Merchant Marine has become a full member of THE Alliance in January. With the backing from the South Korean government, the company has ordered 12 Korean-built 23,000 TEU Megamax-24 vessels…

India’s shipping and ports industry is likely to be negatively impacted by the outbreak of coronavirus (COVID-19) across China and South-East Asia, according to credit rating agency ICRA.China has been a major driver of global shipping trade in tanker, dry bulk and container segments. The tanker rates had witnessed a spike in Q4 CY2019 due to several factors, including supply correction arising from sanctions on a major Chinese company and Iranian vessels, prospects of US-China trade agreement and elevated demand for VLCCs by trading companies for storing VLSFO in anticipation of a sharp demand growth due to implementation of IMO 2020.On the other hand…

Malaysian national oil company Petronas’ subsidiary Petronas LNG Ltd recently signed a 12-year time charter party (TCP)  with a Japanese shipowner Kawasaki Kisen Kaisha Ltd (“K” Line) for two midsized new build LNG vessels.According to the statement, the TCP includes an extension option for an additional 12 years. The LNG vessels had about 79,960 cubic metres each in capacity.Petronas said this was in line with the signing of the shipbuilding agreements between ‘K’ Line and Hudong-Zhonghua Shipbuilding Co Ltd for the construction of the vessels in Shanghai, China.Petronas executive vice president and CEO of gas and new energy, Adnan Zainal Abidin said the procurement and chartering of these vessels were concluded within four months…

Golar Power, which offers integrated liquefied natural gas (LNG) based downstream solutions, and Petrobras Distribuidora S.A. (BR Distribuidora) announce the formation of a Partnership for the development of an LNG distribution businesses in Brazil. According to a press release, the intention is to introduce LNG as an alternative to the fuels currently available to Brazil’s cargo and people transportation, industrial, thermoelectric generation, commercial and residential sectors.Both Golar Power and BR Distribuidora believe that LNG is an innovative and potentially disruptive solution for the transportation sector in Brazil that delivers environmental benefits as well as important economic gains for customers, society and for Brazil as a whole.

German energy company E.ON, Rotterdam Port Authority and DeltaPort Niederrheinhäfen are partnering up to create conditions conducive to switching inland shipping in Germany and Europe from diesel to battery and/or hydrogen drives.The companies agreed in Essen to develop an infrastructure so that freight and passenger ships with climate-neutral propulsion can exchange battery containers or refuel hydrogen in the ports.The partners' goals include climate protection, improved air quality and the long-term optimization of logistics costs.The pilot concept will initially focus on the German inland DeltaPort location in Voerde and Wesel, which will be developed into a sustainable port network as part of the EcoPort813 project.

Singapore shipping company Pacific International Lines (PIL) has announced that it is quitting the Transpacific market as part of an optimization strategy. The shipping line has been participating in a half-dozen trans-Pacific services, mostly in slot-charter arrangements.PIL’s last Transpacific sailing will be in March 2020.The company said it has taken the decision as part of a wider strategic review of its business. Henceforth, PIL will focus on further strengthening its position in the North-South Trade such as Africa, Middle East / Red Sea, India Sub-Continent, Latin America and Oceania.PIL is one of the world’s top 10 container ship operators and is the largest shipowner in Southeast Asia.

The Panama Canal will begin collecting a freshwater surcharge from ships using the waterway from 15th February, as part of actions to address a scarcity of rainfall after the surrounding area recorded its fifth driest year of the last seven decades in 2019.The charge will be set at $10,000 for any vessel over 125 feet long. There will also be a variable surcharge based on the level of the Gatun Lake at the time of transit.The International Chamber of Shipping (ICS) calculate this move will increase costs to ships passing through the Panama Canal by up to 15%. The new ‘Freshwater Charge’ comes ahead of significant changes in rates to the Panama Canal Authority 2020 Tolls Modification, which is due to become effective on April 1st, 2020.

Diana Shipping announced that through a separate wholly-owned subsidiary, it has entered into a time charter contract with BHP Billiton Freight Singapore Pte. Ltd., for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia.According to the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$14,500 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to maximum 17 months.The charter commenced on February 5, 2020. The “Philadelphia” is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.This employment is anticipated to generate approximately…

The  global ocean transport operator AAL Shipping has launched a new Europe-Middle East/India-Asia Monthly Liner Service to serve the market’s multipurpose vessels (MPPs) and project heavy lift cargo transport requirements.The new service, which connects main ports between Europe, Middle East/India and Asia, harnesses AAL’s second generation 31,000-dwt mega-size A-Class fleet, renowned for its 40,000-cu m cargo intake capacity 700-tonne lift ability.The new liner service will follow a fixed route, with port call flexibility. Base ports will include Antwerp, Porto Marghera, Jebel Ali, Dammam, Mumbai, Singapore, Shanghai, Tianjin and Masan.

German international shipping and container transportation company Hapag-Lloyd AG and compatriot logistics and transportation company Hamburger Hafen und Logistik AG (HHLA), will be continuing their close cooperation in Hamburg for another five years.On the basis of this decision, both companies will now be able to make necessary investments and boost their overall competitiveness, said a joint press release.Both parties have also agreed to intensify their collaboration on sustainability-related issues. For example, there are plans to make additional significant reductions in emissions in the Port of Hamburg and to work together to rigorously expand hinterland connections.“We are very pleased to be able to continue our longstanding, trusting and intensive collaboration.

The owner and operator of Port Bronka Fenix LLC St.Petersburg and NBG Nouschirvan Beteiligungsgesellschaft mbH Hamburg have signed an agency agreement for the promotion of the most modern sea port in Russia.Port Bronka is the only deep-water port in St.Petersburg.The port handles container, project, break bulk and ro-ro cargo. The current capacity of the port is 500.000 TEU and 130.000 units of ro-ro cargo per year.The further development plan includes an increase in the container cargo capacity to 1.9 million TEU per year and ro-ro cargo – up to 200.000 units per year."The development of the port is very dynamic and enormously increasing.